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WHITLOCK COMPANY Income Statement For the Year Ended March 31, 2022 Additional information: 1. Accounts receivable increased $200,000 during the year, and inventory decreased $500,000.
WHITLOCK COMPANY Income Statement For the Year Ended March 31, 2022 Additional information: 1. Accounts receivable increased $200,000 during the year, and inventory decreased $500,000. 2. Prepaid expenses increased $150,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $340,000 during the year. 4. Accrued expenses payable decreased $100,000 during the year. 5. Operating expenses include depreciation expense of $70,000. Instructions Prepare the operating activities section of the statement of cash flows for the year ended March 31, 202 for Whitlock Company, using the indirect method
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